First Industrial Realty Trust (NYSE:FR) Reaches New 12-Month High at $43.24

First Industrial Realty Trust, Inc. (NYSE:FR) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $43.24 and last traded at $42.96, with a volume of 103779 shares changing hands. The stock had previously closed at $42.77.

FR has been the topic of several research analyst reports. ValuEngine cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. First Industrial Realty Trust has a consensus rating of “Hold” and an average price target of $33.70.

The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average is $41.60 and its two-hundred day moving average is $38.66. The company has a market capitalization of $5.41 billion, a P/E ratio of 26.86, a PEG ratio of 3.83 and a beta of 0.67.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.19. First Industrial Realty Trust had a net margin of 45.86% and a return on equity of 11.43%. The business had revenue of $106.59 million for the quarter, compared to the consensus estimate of $106.81 million. During the same period last year, the firm posted $0.40 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 1.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, December 30th. First Industrial Realty Trust’s payout ratio is 57.50%.

In other news, EVP Peter Schultz sold 12,000 shares of First Industrial Realty Trust stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $42.03, for a total transaction of $504,360.00. Following the completion of the sale, the executive vice president now directly owns 97,159 shares of the company’s stock, valued at approximately $4,083,592.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.22% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its position in First Industrial Realty Trust by 4.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 21,600 shares of the real estate investment trust’s stock worth $794,000 after buying an additional 900 shares during the last quarter. First Quadrant L P CA raised its stake in shares of First Industrial Realty Trust by 26.2% during the second quarter. First Quadrant L P CA now owns 29,288 shares of the real estate investment trust’s stock worth $1,076,000 after acquiring an additional 6,074 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of First Industrial Realty Trust by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 91,800 shares of the real estate investment trust’s stock worth $3,373,000 after acquiring an additional 898 shares during the last quarter. Rothschild & Co. Asset Management US Inc. lifted its holdings in shares of First Industrial Realty Trust by 5.6% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 621,090 shares of the real estate investment trust’s stock worth $22,819,000 after acquiring an additional 33,060 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of First Industrial Realty Trust by 177.3% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 206,300 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 131,900 shares in the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.

About First Industrial Realty Trust (NYSE:FR)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

Further Reading: Cost of Equity For A Business, Investors

Receive News & Ratings for First Industrial Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.